Loopring Price Prediction for Today, November 4: LRC/USD Bulls in, Bears Out

Updated: 04 November 2022

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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On the 14th of August, at the resistance price level of $0.500, Loopring began to trend downwards. At first, the downtrend was strong and continuous, but later we begin to see bulls struggling with bears for the price, especially at the major support price levels in the downtrend. When the price gets to $0.2433 support, the bulls became strong enough to fight the bearish move.

Loopring Market Price Statistic:

LRC/USD price now: $0.314
LRC/USD market cap: $$531,665,435.85
LRC/USD circulating supply: 1,330,133,546
LRC/USD total supply: 1,374,513,896
LRC/USD coin market ranking: #80

Key Levels

Resistance: $0.3500, $0.4000, $0.4500
Support: $0.2500, $0.2000, $0.1500

Loopring Market Price Analysis: The Indicators’ Point of View

Loopring secured another support which is higher than the $0.2433 support. The new support was formed in yesterday’s market at $0.254. This latest support is the basis for today’s bulls market. The general direction of the Bollinger band channel before was tilting slightly. This points to the downtrend. But now the direction of the indicator will change to an upward position because of the bullish price breakout in today’s market. As the Bollinger channel contracted, it has given the sign for a price breakout. Traders and analysts would have suspected that the trend would be to the upside since the trend, before, was facing a downward direction.

LRC/USD 4-Hour Chart Outlook

In the third session, around the current price, we can see how the bulls and bears are engaged in a tug-of-war for the price. The bulls may be planning to secure support for the price at this point. And this will form the basis for the continuation of the trend.

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